MNI China Daily Summary: Wednesday, June 19

MNI BRIEF: Rate Changes Affect Eurozone More Than US Firms-ECB

MNI BRIEF: BOJ May Real Export Index Drops 1.4% M/M

MNI BRIEF: PBOC, MOF To Promote Treasury Trades Progressively

MNI: PBOC Net Injects CNY276 Bln Via OMO Weds; Rates Unchanged

CHINA PBOC CONDUCTS CNY278 BILLION VIA 7-DAY REVERSE REPOS WEDS

US MBA: REFIS -0.4% SA; PURCH INDEX +2% SA THRU JUNE 14 WK

MNI: US MBA: MARKET COMPOSITE +0.9% SA THRU JUN 14 WK

MNI: EUROZONE APR CONSTRUCTION OUTPUT -0.2% M/M, -1.1% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Bull Run Extended

AUD

AUD/USD extended its renewed winning streak to three consecutive days as risk sentiment picked up. There was little in the way of notable local developments.

  • The rate trades at $0.7511, barely changed on the day. Yesterday's cycle high of $0.7528 provides the initial bullish target, a break here would open up Oct 28 high of $0.7556. Bears look for a pullback under Mar 18 low of $0.7361.
  • Australia slapped further sanctions on Russian individuals as well as Belarus President Lukashenko and members of his family.
  • Next week, focus turns to Australian retail sales (Tuesday), job vacancies, building approvals and private sector credit (Thursday) as well as CoreLogic House Price Index & housing finance data (Friday).
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